Global Macro - Is the Dollar a Good Hedge?

Dollar can be dramatically effective portfolio especially if you're investing in certain equities that are outside the US. I have a tendency to sort of leave it alone unless I'm very concerned about a currency for one reason quite honestly I'm relatively bearish Canadian dollar right now. Canada these days is really a leveraged real estate financialized economy and that's going in the wrong direction so if there was a place where I was do I would kind of say let's let's hedge at our risk it's probably CAD today now.